I. Financing channels
It is an objective demand for securities investment funds to raise funds through the money market. Open-end funds have to face the subscription and redemption of fund shares at any time. When there is a huge redemption and the fund assets are difficult to be realized within the specified time, there will be a more urgent temporary capital demand.
Second, hedging instruments
There are great risks in the securities market itself. For example, the "9 1 1" World Trade Center attack in the United States led to the continuous decline of the American stock market, which had a huge impact and negative impact on the world economy and finance, and a series of risks caused by it caused many internationally renowned investment funds to suffer huge losses. This objectively requires providing some effective hedging tools for the fund to help it avoid risks and improve the stability of its operation.
Judging from China's current securities market, securities investment funds can't sell short, there is no stock index futures for investment, and there is a lack of hedging tools to avoid risks, which makes it difficult to avoid risks, especially systemic risks. When the market bears for a long time, most funds are hard to cope with.
Three. Law and supervision
The operation of securities investment funds needs a set of scientific and perfect laws and regulations to regulate the behavior of the relevant parties of securities investment funds, and also needs to establish a strong regulatory agency to implement supervision according to law.
Four. Fund investors
The development of securities investment funds largely depends on the demand of fund investors for this financial tool.
Verb (abbreviation of verb) subsidizes talents.
As a new industry in China, the securities investment fund industry has accumulated a large number of professionals after several years of development. However, judging from the development requirements of the whole fund industry, there are relatively few professional managers who have knowledge of financial securities, are proficient in asset management and are good at portfolio management, and the investment analysis, asset management level and operational efficiency of funds need to be improved.